Investment Thesis
As electrification accelerates, securing domestic battery materials is critical. Recycling offers a scalable pathway to reduce supply risk and improve sustainability.
Key Drivers
- Policy support for domestic critical materials.
- Long-term demand growth from EV and grid markets.
- Recycling economics improving as volumes increase.
Risks
- Commodity price volatility.
- Project execution and capital requirements.
- Regulatory and permitting delays.